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S&P500 downtrend confirmation

INDEX:SPX   S&P 500 Index
745 23 5
S&P500             index is showing really disturbing signals. The fact that we got fresh new lower highs suggests negative trend formation. Another worrying fact is the divergence between the index and the histogram of the moving average convergence divergence ( MACD ) indicator. This suggests trend reversal.

Using 2011 bottoms as reference and the parallel channel of the recent highs and liws the support range between 1200 and 1240 is the target area, some 6 to 10% drop. However if there is strong monetary or political sign for support the markets could find ground and rally briefly. For trend reversal we would need more persistent policy signs.
TradeVulture.com
4 years ago
We look to still be inside the triangle at the moment. I'm expecting a bounce this week, possible run up to about 1370.
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CapitalHubs TradeVulture.com
4 years ago
Until 1375 is not overcome, which is less likely, we are in bear mood.
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TradeVulture.com CapitalHubs
4 years ago
Hubs...1385...What do you think about 1400 before reversing?
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CapitalHubs TradeVulture.com
4 years ago
After friday close it looks reasonable. Still waiting test of this breakthrough.
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I am following too. I am watching the bottom channel where your green arrow is if it breaks down below those lows that buy point will be violated. so far holding
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CapitalHubs paulyberndt
4 years ago
If this is the case than we are in massive sell-off. I don't expect so strong bears.
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Mikke2130.
2 years ago
i HERE A LOT OF INVESTOR AND TRADERS SAY THIS IS A MINOR SELL-OFF AND I WANT TO TELL ALL OF YOU THERE WRONG. THE MAJOR SELL OFF HAS ALREADY BEGUN. THE S&P 500 HAS ALREADY FORMED A PERFECT MONTHLY WOLFE WAVE PATTERN WHICH IS IN STAGE 5 EXTREME, WHILE MOMENTUM HAS ALREADY TURN DOWNWARD. THE MARKET WILL NOT ADVANCE SIGNIFICANTLY ANY FURTHER. THE DECLINE WILL DROP TO THE 700 TO 600 AREA. SO ANY ONE HOLDING STOCKS OR INDEXES FOR THE LONG HAUL ARE GOING TO LOOSE GREATLY. CHECK OUT THE WOLFE WAVE PATTERN.
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